Casey Van Zutphen, CFA®, CFP® on LinkedIn: Has the Growth in the Price of Education Outpaced Overall Inflation? (2024)

College costs have risen steadily over the past several years, which is why some should consider starting to save early!Whether you plan on paying all the costs or just a fraction, click here to better assess the overall price tag of higher education: https://lnkd.in/eGBP4Rmy #collegesaving #studentloans #sgiwealth

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A college degree is about to get a lot more expensive for the middle class. My latest #highered column for Forbes explores the impact of the simplified FAFSA on financial aid for middle-class families. While the changes simplify the form and expand Pell eligibility and award sizes are positive, a pair of changes to the student aid index (the artist formerly known as EFC), will have a substantial impact on college costs for middle-income families who don't qualify for federal aid.The headline is that the student aid index no longer provides a discount for families with multiple kids simultaneously enrolled in college and no longer exempts the value of small family businesses and farms from the calculations. The financial impact can be substantial - up to $60,000+ per year of increased college costs - and will hit tens of thousands of middle-class families. Institutions, particularly private colleges and universities will need to think carefully about making adjustments to their financial aid policies. Many families who could previously afford to enroll multiple children at private colleges will now be driven by cold, financial logic towards cheaper in-state options. Institutions who do not make tactical adjustments to their financial aid policies will likely bear the brunt of that enrollment shift. #EMTalk #financialaid #FAFSA #college #payingforcollege #enrollmentmanagement #collegeadmissions

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Who Pays Retail for College?I’m always amazed at how most families spend more time researching the cost of a new car than researching how to pay the least for their children’s (or grandchildren’s) education. Families should look at all the options available for their kids to get a quality college education. They should reach out to financial professionals who have the expertise to help maximize both need-based financial and tuition discounts and can help develop strategies to minimize the financial hit families take in paying for college. #financialaid#fafsa#collegefunding

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Delays. The application crashing. Not accounting for inflation. Incorrect calculations. Difficulty in getting support and submitting the application. It has been one thing after another, BUT I don't think it's too late for colleges to do the best with what they have. I've been working with college enrollment and financial aid teams for a long time, and I know one thing for certain—college employees serve students best when they have the space to focus on their primary responsibilities. The thinner they are stretched, the less effective they are in their roles. Graduation Alliance bolsters college teams so they can focus on what they do best... We handle the outreach—phone calls, texts, and emails—to students who still need to take their next steps toward enrollment. So in-house teams can focus on working with students who are actively trying to enroll. #HigherEd #HigherEducation #FAFSA #FinancialAid #StudentSupporthttps://lnkd.in/gnCV3wG8

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choose the right plan for the financial goals.

May 29 is observed across the U.S. as 529 Day or 529 College Savings day. It was introduced to increase awareness of these plans and encourage families to start saving toward future education expenses.A 529 plan is a type of education savings plan. It is designed to help families save towards future education expenses. The tax-free growth and tax-free withdrawals helps parents keep up with the increasing costs of education.

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Latest from FE News: Education Committee launches new inquiry into strengthening financial education: MPs today launch a new inquiry into how financial education can be strengthened throughout primary, secondary and further education. There is broad agreement that financial…Education Committee launches new inquiry into strengthening financial education was published on FE News by FE News Editor #Education #Socialimpact Read more here:

Every parent wants what's best for their child. #Education is a big part of that.When you add up the costs of raising a child, education looms large. According to the 2022 report from The College Board "Trends in College Pricing and Student Aid," four years of tuition and fees alone at a public in-state college is projected to cost $47,152 if you're starting school today. The costs for private school….significantly higher.There is no one-size-fits-all solution when #planning for #education goals. It's important to evaluate all of your options - while taking into consideration contribution limits, #tax benefits, implications for #financial aid and other factors that differ across the major savings vehicles available.Wondering where to start? Read more at the link below. #TheIrickGroup#PurposeDrivenMyah Moore Irick, ChFC® Shiv Sethi Kyle Wagner Bridgette Hundon Andre Leverett

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2024 has produced significant changes to the college process. Colleges admit students differently, there are major changes to college financial aid and some schools are requiring test scores again. Check out our recent articleto learn more!https://lnkd.in/g6XYdsSN#college#collegeadmissions #fafsa #529plan

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If you have a student who will be attending college in Fall of 2024,you are likely already familiar with all of the bumpiness with theimplementation of the new FAFSA application.While it was supposed to be “easier”… to me, it's just different.But certainly not easier as had been suggested.Additionally, with the government mandate that the new application be released by December 31, 2023, there have been many glitches and oversights with the roll out.The latest “glitch” occurred yesterday!January 30 had been the date where the Department of Education was to send all of the applications received to the colleges and also the date where families can begin to make corrections and updates.Based on the government's incorrect application of inflation adjustment factors in the original formula, a fix was needed.The good news is that the FAFSA formulas are being correctedso that an additional $1.8 Billion becomes available in student financial aid.The bad news is that in correcting this error,January 30 has now been pushed back to March 1!.For parents of current 12th grade and college students, this means,that the government will not release your FAFSA application to the collegesthat your student has applied to, or is enrolled in, till March 1.Which means, for 12th Grade Parents, that there will likely be a delayfrom each of the college financial aid offices' in sending youtheir Financial Aid Award Letters so that you are able to make educated decisions based on academic, social and financial fit of each college.Since the release date from each college will likely be delayed,the colleges may also need to allow familiesmore time to make a final college decision.I would not be surprised if there is a need to delay College Decision Daypast May 1 at many of the colleges and universities, though I hope not.For clients of College Financial Prep, we are moving forward as always!Many clients have already submitted their FAFSA application.For these clients, we are now waiting for the government to forwardyour information to the colleges on March 1.And for others, there is still plenty of time to submit this year's FAFSA form.As mentioned, the government will not be forwarding FAFSA applicationsto the colleges till March 1!If you have a friend who needs assistance or if you have an 11th grader and just starting the process, reach out to us.College Financial Prep is here to help…#collegeplanning #collegeadvisor #financialaid

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